ATLANTA, Dec. 16, 2014 (GLOBE NEWSWIRE) -- Newell Rubbermaid (NYSE:NWL) announced today that it has completed the acquisition of Baby Jogger Holdings, Inc. ("Baby Jogger") from the Riverside Company, a global private equity firm. Baby Jogger is a leading designer and marketer of premium infant and juvenile products focused on activity strollers and related accessories. The company has a strong growth track record and is expected to deliver approximately $90 million of net sales in 2014. The purchase price of $210 million represents approximately 12 times estimated 2014 EBITDA before synergies and any potential tax benefits. The acquisition is expected to be accretive to Newell Rubbermaid's growth rate, EBITDA margin and normalized EPS in the first year.
"I am very pleased to add this strategic asset to our Baby & Parenting portfolio," said Newell Rubbermaid President and CEO Michael Polk. "In combination with Graco and Aprica, Baby Jogger and its City Mini® and City Select® sub-brands offer compelling growth opportunities which will further establish Newell Rubbermaid as a global leader in juvenile products as we drive the Growth Game Plan into action."
About Newell Rubbermaid
Newell Rubbermaid Inc., an S&P 500 company, is a global marketer of consumer and commercial products with 2013 sales of $5.6 billion and a strong portfolio of leading brands, including Sharpie®, Paper Mate®, Rubbermaid Commercial Products®, Irwin®, Lenox®, Parker®, Waterman®, Rubbermaid®, Contigo®, Levolor®, Calphalon®, Goody®, Graco®, Aprica® and Dymo®. As part of the company's Growth Game Plan, Newell Rubbermaid is making sharper portfolio choices and investing in new marketing and innovation to accelerate performance.
This press release and additional information about Newell Rubbermaid are available on the company's Web site, www.newellrubbermaid.com.
Caution Concerning Forward-Looking Statements
This news release contains forward-looking information based on management's current views and assumptions regarding the anticipated benefits of the transaction, including Baby Jogger's financial contribution to the Company's financial results, and the Company's expected investments in the Baby Jogger business. Actual events may differ materially. Factors that may affect actual results include, but are not limited to, the ability of the Company to integrate the Baby Jogger business with the Company's existing businesses and realize the expected financial results and accretive effect of the transaction, and reaction of the Company's customers, competitors, suppliers and employees to the transaction. Please refer to the cautionary statements set forth in the "Forward-Looking Statements" section of the Company's most recently filed Quarterly Report on Form 10-Q as well as the risk factors set forth in Exhibit 99.1 thereto, for other factors that could affect our business.
CONTACT: Nancy O'Donnell Vice President, Investor Relations (770) 418-7723 Nicole Quinlan Senior Manager, Corporate Communications (770) 418-7251